With a Fixed-Rate Home Equity Loan, you can utilize the equity you've built in your home to pay for any expense you may need. Unlike HELOC's, a fixed-rate loan is a singular lump sum that you can pay back with ease knowing the rate will remain fixed for the duration of the loan's life.

With a Fixed-Rate Home Equity Loan, the funds are dispersed in one lump sum and paid back through fixed-rate monthly payments. 

You can use a Fixed-Rate Home Equity Loan to fund major expenses such as home improvements or renovations, medical expenses, education expenses, vacations and more.

With a Fixed-Rate Home Equity Loan, you can take advantage of:

• Lower rates
• Level principal
• Decreasing loan balances
• Your rate won't change even if the market does

A Home Equity Line of Credit (HELOC) uses the equity in your home to establish a line of credit for immediate and future lending needs. Unlike a Fixed-Rate Loan, a HELOC allows you to borrow up to a certain amount during your draw period, instead of receiving all of the money upfront. You can borrow as little or as much as you need and only pay for what you borrow.

In order to receive a HELOC, you must have available equity in your home. This means you owe less than what your home is worth. Once you receive a HELOC, you will have a draw period to use funds as needed for any expenses that may come up. Similar to a credit card, as you pay the outstanding balance on your line of credit, your available funds are re-established.

A Home Equity Line of Credit (HELOC) enables you to borrow as much as you need, as soon as you need it. With access to instant cash, you can utilize your equity to consolidate debt, pay medical expenses, make home improvements and more.

With a HELOC, you can take advantage of:

• Lower Rates
• A Revolving Line of Credit
• No Annual Fee